During the Global SME Finance Forum 2018, Joyce Tee, Managing Director and Group Head of SME Banking for DBS Bank, encouraged SMEs to consider the necessity of insurance for their business. 

“Insurance has a way to actually cover a lot of [SMEs] risks. This is about how to make education, awareness of insurance that is accessible [and] understandable to SMEs...It’s never about pushing a product out,” Tee said. “We don’t believe in that. It’s about making sure it is relevant to them.”

Also discussed was DBS’ forward-thinking in utilizing digitization to make processes simple for customers. “This is a bank that believes digital is core. Either you stay here and get disrupted and eroded or you take on the fight,” Tee said. “So we decided, we will take on the fight. We will actually become a fintech of our own.”

More than 600 attendees represented 208 institutions and 80 countries at the Forum. See event highlights, testimonials, other expert interviews, 13 TechPitches, session presentations and a recap of the Study Tour to 12 innovative financial institutions on the event website: https://globalsmefinanceforum.org/2018/